CASH IN TRANSIT
Searching for the expert solution to handle and process your cash?
As a Money Service business operator, your business receives cash receipts from your customers. Handling and processing that cash is worrisome and difficult. Here is the perfect solution.
Calyx Solutions will get you in touch with authorised and specialised CASH-IN-TRANSIT business.
What is Cash-in-Transit (CIT)?
Cash in transit facilitates the physical transportation of cash from your business premises to another by a specialised security company who will then transfer the funds to your business bank account.
Step 1
CASH PAYMENTS TO THE MSB
Customers of the Money Service Business (MSB) will make payment in cash to transfer it to their beneficiary
Step 2
CASH PICKUP BY THE CIT
The Cash Received by the MSB will be collected by the Cash-in-Transit (CIT) company. CIT will deposit the cash into their UK business bank account for processing.
Step 3
CASH PROCESSING BY CIT'S UK BANK
It may take 3 to 5 working days for the cash to be processed and deposited. CIT will then transfer it to the business bank account of MSB using Faster Payments System (FPS).
Step 4
MSB's BANK ACCOUNT
Digitally converted cash will be received by the MSB in their bank account. Then, MSB will transfer it by making swift payments to their pay-out partner or use it to pay the bills.
Benefits of Cash-in-Transit for cash-accepting businesses:
- Coverage against loss of money due to theft, misuse, and calamities
- Safe and quick cash pickup
- Digital conversion of cash
- Safe delivery of funds using a Faster Payment System to your business bank account
How Calyx Solutions will assist you?
Calyx Solutions is partner with authorised CIT company. We will solve your problem of handling cash by introducing your business to an authorised CIT Company.
The Calyx Support Team will:
- Introduce you to our referral partner providing CIT service to Money Service Businesses
- Explain the CIT process and guide you on the on boarding process in the first e-meeting
- Respond your queries over a call, email or WhatsApp message, according to your preference during our support time
- Provide assistance in onboarding process with CIT company
For detailed guidance, please book an appointment today!